Calculators and Tools

NFIB Weekly News

NFIB Weekly News Leading the News

Small Business Optimism Rises in August (09/08/2020)

The NFIB Small Business Optimism Index (9/8) was slightly above its historical average thanks to an increase of 1.4 points in August, rising to 100.2. NFIB’s Chief Economist Bill Dunkelberg was quoted as saying, “We are seeing areas of improvement in the small business economy, as job openings and plans to hire are increasing, but many small businesses are still struggling and are uncertain about what the future will hold.” The NFIB’s Uncertainty Index also rose “in August, to 90, the second-highest reading since March 2017.”

Business Climate

Small Business Owners, Others May Be Facing Difficult Choices Without Additional Financial Assistance (09/08/2020)

The New York Times (9/1, A1, Casselman) reported that a lot of small business “owners face tough choices after a federal loan program and other government moves to bolster the economy have run their course.” The US could be facing “a wave of small-business failures this fall if the federal government does not provide a new round of financial assistance – a prospect that economists warn would prolong the recession, slow the recovery and perhaps enduringly reshape the American business landscape.”

Small Business Marketing

Amazon Launchpad Celebrates Five Years Of Helping Small Businesses, Startups (09/08/2020)

Homeworld Business (9/3, Kramer) reported, “Amazon Launchpad, a program dedicated to empowering startups and other innovative new brands to grow in Amazon’s store, is celebrating five years of launching new products.” Launchpad has helped “startups and small businesses launch tens of thousands of products across 30 categories in the U.S. alone, with nearly 400 U.S.-based startups and small businesses having surpassed $1 million in annual sales in Amazon’s store since the program launched in 2015 – and nearly 40 have surpassed $10 million in annual sales, according to the company.”

Wages and Benefits

Most Retailers Have Ended Pandemic-Related Wage Increases; Some Have Increased Wages Permanently (09/08/2020)

The Minneapolis Star Tribune (9/3, Ewolt) reported that with some exceptions, “most of the temporary pay bumps put into effect as the coronavirus pandemic started to hit the U.S. have expired.” A few retailers have raised hourly wages permanently, “but for the most part, as demand for grocery staples levels off, the hazard pay is going away as well.” One retailer that instituted a permanent wage increase is “Target, which had also added hazard pay in the spring,” and then “permanently raised [its] minimum wage to $15 an hour in July, when the temporary bump ended.”